Ken-Tal NEWS Local Lifestyle Lifestyle Publication - NOV 2021

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LO C A L L I F E ST Y L E P U B L I C AT I O N

November 2021 | VOLUME 6 | ISSUE 11

VOLUME 5

I

ISSUE 5

Megan’s Message Zillow vs. The Human

The holidays are in full swing with these fun local events happening in November & December! Are you one of the many who starts their research online? When considering What the heck is happening in San Diego real estate?! buying or selling your home, would you Þrst consult Zillow to get an idea of Meet your neighbor what is out there, or what has recently sold in Can your neighborhood to geta anloan right now? Are homes even selling? I even get Nov 13 & 21 idea of value? I have long had the conversation with my clients about why itÕs Wendy Reynolds aretosome ofa computer/algorithmic the questions I get on a daily basis in Food Drive soThese important NOT depend on method of calculating Talmadge the value of one of their most valuable assets. If Zillow were my client, I would Ouragain spotlight this month is on the of our COVID19 shelter intoplace Our annual Talmadge Food Drive is here have toldmidst them the same thing….and they would have done well heed my period. and we aim to support those with food Wendy Reynolds of Talmadge. insecurities over the holidays! Talmadge has long and benefit thanks to their service!), and if A San Diego native, Reynolds I am here to tell you that indeed, homes partnered with our very own, local Copley Price Zillow is one of several, but perhaps one of the biggest corporate entities that you are borrowing $701,500 or less, which grew up in Clairemont, went to are selling and people are getting loans. Family YMCA, in delivering groceries to families in launched into iBuying. Others include Offerpad, OpenDoor, and RedÞnNow. need and weÕd like to make this a record year! puts you Mission Bay High School and It’s still a bit early to see any price These companies buy homes in select markets for cash, upgrade them andin the conventional financing resell them for a trends proÞt, also as Òßipping.Ó They rely on software to tell category, many lenders will still allow you attended San Diego State for adjustment asknown we tend to measure Please consider donating canned and/or dry them which homes to buy and for how much, with the goal of conducting dropand off at the trafÞccollege, Circle in “GO AZTECS!” Along to put as little as 5%goods. down.You Allcan loans that trend over a 3–6 month time frame enough of these transactions to make billions. Talmadgeequal, (intersection of Adams andthe 49th) on Reynolds moved to all lenders are not created nor are way and we just don’t have that hindsight Saturdays 11/13 & 11/21) between 10-12:30, or Zillow launched in to ßipping properties 3 years ago, having bought their almost financing programs. me for San Francisco and after 20 as of yet. But I can tell you that I am still contactContact Megan directly at Megan@Meganb.com 10,000 homes nationwide in the third quarter of 2021 alone, (with the majority to comelender pick up.that can a referral to a trustworthy years in the Bay Area, she consistently seeing multiple offers on of these purchases occurring in both San Diego and Phoenix). Out of those decided she needed a change properties in sold Sanonly Diego, the loss ofprovide 10,000, they have aboutparticularly 3,000 with anin average $80,000 you per the information you need to home to inaccurate predictions value,both or Zestimates, as get they started are often in your research. December 12the move back to her and made $1.2due million range and belowofwith referred to. The fact that they continually paid more than the actual value of The 7th Annual Holiday Lights Bike hometown of San Diego. After my buyer and seller clients. Of course, the home, and then sold it for a substantial loss has affected appraisals and Ride sponsored by the Kensigton If you would like to explore buying and/ going to area open houses, depends on the and overall thethis average consumer on solocation many levels. Talmadge Business Association or selling in this ever changing market, she came across Talmadge. presentation, but with an already very Zillow as an iBuyer competed with a real human buyer, paying more than give me over a call at 619.944.2798 or email According to Reynolds, “I loved limited of (or housing for buyers Join fellow neighbors on Sunday, anyone elseset could would), inventory and more often than not, paid signiÞcantly December 12 for a family-friendly, me at Megan@MeganB.com. I’d be happy the friendly neighborhoodcasual vibe 3out market there to choose tighter actual value. At the from, end of it’s the even day, there really is no competition with mile group ride around Kensington to see ZillowÕs pockets were lured byathe smell of money. This would to discuss with you what sets my service all the planned activities. now.deep Those thatand cansellers still qualify for theand holiday lights. drive the price up, pushing the dream of homeownership even further out of apart from the rest! I haven’t seen a neighborhood loan are able to take advantage of the reach for our local buyers. Tickets include: quite like Talmadge.” still low rates and achieve their dream of - bike decorations They have done the same to real estate agents over the last decade, as they homeownership, moving up, or downsizing. - Guided, safety-patrolled ride inched toward attempting to replace what we do. The fact is that when you In May of 2019, Reynolds made - Treats & specials from participating local hire a real estate professional to assess value on your home, there is so much businesses Talmadge her home. A graphic Loans be a little tricky these days more than can just gathering data algorithmically to give you a number. We look at for location, condition, ßow, signiÞcant defects such designer for 25 years, she has a primary residence and trickier still as drainage, strong pet/ Tickets are limited to 300, so get yours smoke odors, neighboring properties, noise, and other factors that may have owned her own design business, for an investment property. For a primary now at kentalbiz.org! affected nearby recent sales (a recent Zillow-owned property sold at a loss, for Olive Design for 20 years and is residence loan, with many (but not all) example). An algorithm canÕt do that. Nor can it put together a strategic plan December 19 forlenders, marketingyou for youÉand kidon yourself, theat pricing of a home is part of currently freelancing. Ultimately, should donÕt count having Talmadge Caroling at the Circle theleast marketing she is looking for a permanent 20% plan. down if you are needing to employee position (hint, hint). borrow or higher this puts Well, Zillow $701,501 is Þnally calling it quitsas in ßipping dueyou to substantial losses, with Calling all Talmadge Neighbors! roughly $1.15 BILLION pilecategory. of mortgage bondslenders tied to their iBuying business. You can find her online portfolio in thea “jumbo loan” Most Bundle up, bring family & friends and join They blame it on faulty algorithmic calculations. Plainly said, they relied on are still processing VA loans up to $1 million us on December 19 from 5-7pm at theat wendyreynolds.myportfolio. their own ÒZestimatesÓ, and they were wrong. DonÕt fall victim to a Zestimate. Talmadge trafÞc circle for an eveningcom. of In her free time, Reynolds $0 down (always an incredible opportunity Or to Zillow. When it comes to buying or selling real estate, contact a real, live holiday music, festive fun and neighborly human real estate professional to assist you. What you think you may be loves hiking, mountain biking, good cheer at the annual Talmadge saving by doing this online could cost you tens of thousands of dollars whether print making, art shows and Caroling at the Circle! a buyer or a seller. I would be happy to talk with you about this topic as well happy hour. Her passions as the value I bring to the table (and your pocketbook) when working with me. Be sure to mark your calendars and save include travel, photography Call me at (619) 944-2798 to set up an appointment to talk about your real December 19! Looking forward to seeing estate future. you there! and she loves her adorable dog, Diego. If you see them out in the neighborhood, be sure to Have questions about real estate? Contact Megan! say hello! Happy to have you here, Wendy! Megan Beauvais advice, too!

REALTOR® 619.944.2798

Have Questions About Real Estate? Megan Beauvais Contact Megan! REALTOR¨, GRI

megan@meganb.com DRE 01426805

619.944.2798

DRE 01426805 megan@meganb.com www.meganb.com

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527365. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been veriÞed. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. This information is provided for informational purposes only and is not a solicitation, recommendation, offer or promise to provide services. Compass is not offering legal, Þnancial or other professional advice. Compass reserves the right to refuse, reject, or cancel the program for any reason at any time without liability. Compass offers no guarantee or warranty of results. Subject to additional terms and conditions. Home must qualify under Compass Concierge guidelines. Subject to additional terms and conditions. Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527365. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate.


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Ken-Tal NEWS Local Lifestyle Lifestyle Publication - NOV 2021 by Local Umbrella Media - Issuu